User Account

All Pages

What total amount should be reported as cash

Assignment Help Accounting Basics
Reference no: EM132937819

Question - Sharmaine Company provided the following account balances on December 31, 2015:

Cash in bank 2,250,000

Cash on hand 125,000

Cash restricted for addition to plant expected to be disbursed in 2016 1,600,000

Cash in money market account 750,000

Treasury bill purchased November 1, 2015 maturing January 31, 2016 3,500,000

Treasury bill purchased December 1, 2015 maturing March 31, 2016 2,000,000

Cash in bank included P600,000 of compensating balance against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. What total amount should be reported as cash and cash equivalents on December 31, 2015?

A. 8,225,000

B. 6,025,000

C. 6,625,000

D. 8,625,000

Reference no: EM132937819

Questions Cloud

What is the most you would be willing to pay for this share : The company just paid a dividend of $4.00. If your required rate of return is 13 percent p.a., what is the most you would be willing to pay for this share
Calculate the accounting rate of return for this investment : Calculate the accounting rate of return for this investment. Ensure that you consider the depreciation costs and show all your workings
What be reported as cost of goods sold on income statement : What would be reported as Cost of Goods Sold on the income statement for the year ending December? 31, 2025 if the perpetual inventory system
What will be the npv of the acquisition : If the current owner is willing to sell the firm for $1.81 Billion and the cost of capital changes from 15% to 17%, what will be the NPV of this acquisition?
What total amount should be reported as cash : The compensating balance is not legally restricted as to withdrawal. What total amount should be reported as cash and cash equivalents on December 31, 2015
What would be reported for cost of goods sold on the income : What would be reported for Cost of Goods Sold on the income statement for the year ending December? 31, 2025 if the perpetual inventory system
Determine how much each partner will receive : Based on the program, determine how much each partner will receive assuming; Cash available for distribution is P20,000
What would be effect of financial decision on the company : As a result of the COVID-19 crisis, What would be the effect of this financial decision on the company's current ratio, quick ratio and cash ratio?
Determine the rate of inflation : Problem - A house and lot that is sold in 2010 for 1,500,000 was sold by a new buyer for 2,000,000 in 2020. Determine the rate of inflation

Reviews

Write a Review

Accounting Basics Questions & Answers

  International accounting issues

actual case study where you will relate the concepts of IFRS and international accounting issues, including transfer pricing and taxation, corporate governance, and consolidation principles,

  Which is not true of a sound system of internal control

Which is NOT true of a sound system of internal control? a sound system of internal control is the responsibility of management

  What amount of organization expense should be reported

Palmiero bought a franchise from Dougherty Co. on January 1, 2011, for $350,000. The carrying amount of the franchise on Dougherty's books on January 1, 2011, was $500,000.

  Which notes to the financial statements

Which Notes to the financial statements? Provide some useful information that cannot provided in financial statements./ Provide recognition of financial amount

  Prepare journal entry to apply manufacturing overhead costs

Sweeten Company had no jobs in progress at the beginning of March. Prepare the journal entry to apply manufacturing overhead costs to production.

  Find the correct final balance of Inventory

Inventory items with a cost of $2,040 were excluded from ending inventory. Using the information given above, find the correct final balance of Inventory

  On february 1 the board of directors declared a 3-for-2

on february 1 the board of directors declared a 3-for-2 stock split distributed on february 22 to shareholders of

  What is the desired ending inventory for April

Noel enterprises has budgeted sales in units for the next five months as follows: January 6800 units. What is the desired ending inventory for April

  Name at least two capabilities on the leadership competency

Name at least two capabilities on the leadership competency that you perceive to be most important for your future career goals

  Explain how you would distribute the seven functions

Explain how you would distribute the seven functions among the three employees. Assume that except for the nominal jobs of the bank reconciliation

  What is the break-even point

Rachel's Racquets produces racquetball racquets. Their racquetball racquets are sold at many local sporting goods stores. What is the break-even point

  Determine the materials quantity variance for the period

There were no increases or decreases in inventories during the period. Calculate the materials quantity variance for the period

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd